- Peter Schiff warns of Bitcoin’s collapse during the next crisis, despite increasing global use in settlements and international trade.
- Bitcoin rebounds from sub-$75K lows as tariff delays ease pressure, but key technical resistance levels continue to cap upward moves.
- Analysts highlight signs of a possible breakout, yet persistent bearish signals suggest Bitcoin’s next major move remains uncertain.
Economist Peter Schiff has renewed his criticism of Bitcoin, claiming that the digital asset, born from the 2008 financial crisis, will not survive the next economic downturn. Schiff posted on social platform X that the expected 2025 financial crisis could mark the end of Bitcoin, framing it as a speculative bubble rather than a viable monetary solution.
Bitcoin indicated market stability during the volatile week that followed recent price fluctuations. Bitcoin restored itself from below $75,000 because of increased U.S. tariff worries before reaching its current trading value near $81,300. President Donald Trump delayed tariff constraints on Chinese and other non-Chinese nations as the market recovered. A brief period of investor relief occurred because of this postponement during the general market strain.
Bearish Indicators Challenge Price Momentum
Despite the rebound, several technical indicators continue to show bearish signals. According to analyst Ali Martinez, the presence of a death cross on the daily chart and continued SuperTrend sell signals raise concerns. The monthly open at $82,500 remains a strong resistance point. Further barriers include a descending trendline from the all-time high, as well as key moving averages near $85,800 and $87,000.
Market data reveals that Bitcoin is consolidating near the middle Bollinger Band at $83,138. Buyers have recently defended the lower band at $77,043, suggesting support in that region. Narrowing Bollinger Bands point to a possible breakout ahead, though the direction is unclear. The Relative Strength Index currently stands at 46.47, reflecting a neutral position in market sentiment.
Global Use Cases Undermine Speculation Argument
Contrary to Schiff’s claim, Bitcoin adoption continues to grow. Nations like China and Russia are using Bitcoin and other digital assets to settle energy trade. Bolivia is planning cross-border crypto payments for electricity imports, and France’s EDF is exploring Bitcoin mining with surplus energy. These developments support the view of Bitcoin as an emerging monetary instrument beyond speculative trading.
